Time to buy real estate in Paris?

Would you like to buy an apartment in the French capital? So, probably, it’s the very moment now when we could say, “Wow, it’s time to buy real estate in Paris” while hotels are rising! An evident reason is the price reduction in Ille-de-France region.

Well, the price of “square meters” has fallen by 3,5 percent only during the last summer. And speaking about a longer period, we can see that from the spring 2011 value of Parisian accommodation has lost more than 9 percent. At this moment, the average price of one square meter of residential real estate in the city is 7850 €.

Though, we have to note that a decrease in price has a direct relation with types of apartments. Premium-class apartments became cheaper by only 3 percent, while the flats with obvious shortcomings (lower floors of the buildings or not the most attractive interior conditions) – by 10-25 %.

Besides, analysts suggest that real estate in Paris will be even more affordable (as predicted, the price can fall by 5 % in comparison to its level in January) by the end of 2014.

The recent statistics say that the main buyers of Paris apartments now are foreigners.